Investing.com -- United Airlines reported Monday fourth-quarter results that topped estimates, but airline said it expects a wider-than-expected loss in the first quarter of the year owing to the impact of the grounding of the Boeing (NYSE:BA) 737 Max 9 jet.
United Airlines Holdings Inc (NASDAQ:UAL) shares were up more than 6% in after-hours trading following the report.
United Airlines Holdings reported adjusted EPS of $2.00 on revenue of $13.63 billion. Analysts polled by Investing.com anticipated an earnings of $1.70 a share on revenue of $13.55 billion.
Fourth-quarter cost per available seat mile, or CASM was up about 4.9% compared with the same period a year earlier.
Looking ahead, the airline said it expects a first-quarter adjusted loss of between $0.35 and $0.85, compared with Wall Street expectations for a loss of $0.18 per share, owing to the impact of the grounding of the Boeing 737 MAX 9. Total revenue per available seat mile, or TRASM, expected to be flat.
The Boeing 737 MAX 9 jet was grounded after an Alaska Airlines 737 MAX 9 was forced into an emergency landing following a cabin panel blowout mid-flight.
For the first quarter 2024, the company estimates that the Boeing 737 MAX 9 grounding will have an impact of approximately 3% of incremental CASM-ex based on the fleet being grounded Jan. 6, 2024 through January 31, 2024.
For the full-year, the airplane maker expects full-year adjusted diluted earnings per share of $9 to $11 per share.